Cardinal Health Inc (CAH) Position Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in Cardinal Health Inc (NYSE:CAH) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,600 shares of the company’s stock after selling 2,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cardinal Health were worth $696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA acquired a new stake in Cardinal Health in the 3rd quarter worth $108,000. NEXT Financial Group Inc acquired a new stake in Cardinal Health in the 3rd quarter worth $111,000. First Hawaiian Bank acquired a new stake in Cardinal Health in the 3rd quarter worth $125,000. Stelac Advisory Services LLC acquired a new stake in Cardinal Health in the 3rd quarter worth $164,000. Finally, Flagship Harbor Advisors LLC grew its position in Cardinal Health by 335.3% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 3,526 shares of the company’s stock worth $190,000 after purchasing an additional 2,716 shares during the last quarter. Hedge funds and other institutional investors own 89.00% of the company’s stock.

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Shares of Cardinal Health stock opened at $49.35 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health Inc has a twelve month low of $42.17 and a twelve month high of $75.75. The stock has a market cap of $14.46 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, November 8th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.21. Cardinal Health had a net margin of 0.53% and a return on equity of 23.97%. The business had revenue of $35.21 billion for the quarter, compared to analyst estimates of $33.66 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Research analysts forecast that Cardinal Health Inc will post 5 earnings per share for the current year.

Cardinal Health announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd were given a dividend of $0.4763 per share. The ex-dividend date of this dividend was Monday, December 31st. This represents a $1.91 annualized dividend and a dividend yield of 3.86%. Cardinal Health’s dividend payout ratio (DPR) is currently 38.20%.

In other news, SVP Stuart G. Laws sold 804 shares of Cardinal Health stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $55.55, for a total transaction of $44,662.20. Following the sale, the senior vice president now directly owns 6,342 shares in the company, valued at approximately $352,298.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Several research firms have issued reports on CAH. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. UBS Group began coverage on shares of Cardinal Health in a research report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Royal Bank of Canada set a $57.00 price target on shares of Cardinal Health and gave the stock a “hold” rating in a research report on Friday, November 9th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $61.00 price target on shares of Cardinal Health in a research report on Wednesday, November 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Cardinal Health has a consensus rating of “Hold” and a consensus price target of $59.91.

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About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.